Seacon Ships Management flogging bulk carrier trio to upgrade fleet

But the Chinese owner, broker and manager denies a reported sale of three ships to Chinese buyers

Seacon Ships Management is aiming to sell a trio of six-year-old bulk carriers, with European owners in the frame as prospective buyers.

Officials at the Qingdao-based shipowner acknowledged the sale efforts as they denied market reports that the trio has been sold for domestic trading.

Seacon Shipping adds bulker quartet to fleet

Brokers have reported that the 40,000-dwt Glory Hongkong (built 2012) has brought $10.6m from buyers described as "unknown Chinese", while similarly unknown compatriots were reported to have paid $13m each for the 56,900-dwt Ocean Carrier and Ocean Vendor (both built 2012).

But Seacon officials say the three ships are unsold so far. The prospective buyers include financial players and traditional shipowners. The Seacon sources said the three ships have been on the market for some time.

To be sold separately

The Glory Hongkong, which Seacon describes as a standard handysize bulker despite its unusual dwt and a slightly deeper-than-usual laden draught, is expected to be sold separately.

The two supramaxes are poised to go as a set.

Seacon is understood to be aiming at slightly higher price levels of about $11m for the Ningbo Dongfang-built handysize and $13.5m each for the Tianjin Xingang-built supramaxes.

The company would put the proceeds towards replacement tonnage, either newbuildings or secondhand.

"It is purely a commercial move, an opportunity to upgrade the fleet," said a Seacon sale-and-purchase official who did not wish to be named.

Sales of 2012-built bulkers into the five-star red flag would represent an advance by Chinese private shipowners in the so-far hesitant process of importing newer tonnage for domestic trading. Previously brisk sales to small coastwise traders have fallen off following this summer's sudden restrictions on the import of older, pre-Tier-II tonnage.

"It is purely a commercial move, an opportunity to upgrade the fleet"

Seacon sale-and-purchase official

The Seacon official said that Chinese domestic trading buyers are showing interest in younger tonnage for import, but so far the financing is holding them back.

Seacon is described in shipping databases as controlling several domestic ships of up to panamax size, but company officials said the ships listed are actually under third-party management for other owners.

As an owner, Seacon has only one small handy and one supramax in the Chinese domestic trades. It operates internationally trading handysizes from its Qingdao headquarters and larger tonnage, including the ships that are for sale, from its outpost in Singapore.

Seacon Ships Management flogging bulk carrier trio to upgrade fleet

Seacon Ships Management flogging bulk carrier trio to upgrade fleet

But the Chinese owner, broker and manager denies a reported sale of three ships to Chinese buyers

Seacon Ships Management is aiming to sell a trio of six-year-old bulk carriers, with European owners in the frame as prospective buyers.

Officials at the Qingdao-based shipowner acknowledged the sale efforts as they denied market reports that the trio has been sold for domestic trading.

Seacon Shipping adds bulker quartet to fleet

Brokers have reported that the 40,000-dwt Glory Hongkong (built 2012) has brought $10.6m from buyers described as "unknown Chinese", while similarly unknown compatriots were reported to have paid $13m each for the 56,900-dwt Ocean Carrier and Ocean Vendor (both built 2012).

But Seacon officials say the three ships are unsold so far. The prospective buyers include financial players and traditional shipowners. The Seacon sources said the three ships have been on the market for some time.

To be sold separately

The Glory Hongkong, which Seacon describes as a standard handysize bulker despite its unusual dwt and a slightly deeper-than-usual laden draught, is expected to be sold separately.

The two supramaxes are poised to go as a set.

Seacon is understood to be aiming at slightly higher price levels of about $11m for the Ningbo Dongfang-built handysize and $13.5m each for the Tianjin Xingang-built supramaxes.

The company would put the proceeds towards replacement tonnage, either newbuildings or secondhand.

"It is purely a commercial move, an opportunity to upgrade the fleet," said a Seacon sale-and-purchase official who did not wish to be named.

Sales of 2012-built bulkers into the five-star red flag would represent an advance by Chinese private shipowners in the so-far hesitant process of importing newer tonnage for domestic trading. Previously brisk sales to small coastwise traders have fallen off following this summer's sudden restrictions on the import of older, pre-Tier-II tonnage.

"It is purely a commercial move, an opportunity to upgrade the fleet"

Seacon sale-and-purchase official

The Seacon official said that Chinese domestic trading buyers are showing interest in younger tonnage for import, but so far the financing is holding them back.

Seacon is described in shipping databases as controlling several domestic ships of up to panamax size, but company officials said the ships listed are actually under third-party management for other owners.

As an owner, Seacon has only one small handy and one supramax in the Chinese domestic trades. It operates internationally trading handysizes from its Qingdao headquarters and larger tonnage, including the ships that are for sale, from its outpost in Singapore.

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